/biz/ - Business & Finance

[Anonymous No.9068900]

/biz/, Is owning a house a meme?
http://www.businessinsider.com/why-i-am-never-going-to-own-a-home-again-2011-3

[Anonymous No.9069051]

Buying a house is an investment. Your house may lose value if the place you bought it is overrun by diversity or natural disasters, or may skyrocket in value if it turns out to be in the next silicon valley

[Anonymous No.9069084]

>>9068900

Only pros are:

Forces you to save

Cheap, government subsidized leverage

Everything else is priced in

[Anonymous No.9069236]

>>9068900
nice dubs, but being homeless is a meme

[Anonymous No.9069324]

>>9068900
>Rent for 10 years $1500 a month.
>$180,000 in the garbage.
>Could have been putting that into a mortgage.
>After those 10 years I can sell the house and get back money from the equity I accumulated + appreciation.

Hmmm getting something back or throwing it all in the garbage. That's a hard choice.

[Anonymous No.9069348]

>>9069324
You'll lose a fuckton in repairs and shit but honestly just by how much rent increases over 10 years you'll save tens of thousands.

[Anonymous No.9069401]

>>9069348
Better than losing it all. Where's the landlord getting the money to pay for HIS repairs anyway? It's coming from you. At least any repairs or renovations you put into your house still belongs to you and adds value to your property.

[Anonymous No.9069432]

>>9069348
And yeah that's a good point about rent increasing. By buying now you're basically "locking in the price today with your trezor". The rent will NEVER go down. So all these articles about how you shouldn't buy, and instead give the landlord your money is just Jewish tricks.

[Anonymous No.9069452]

You're fucking retarded to ever rent for more than two years,maybe three. You essentially paid nosebergstein's mortgage and got no equity.

[Anonymous No.9069462]

>>9068900
Every rental argument assumes you will never move and benefit from rent control for a 20 year period. If you have to move, you will be paying market rates. Renting pretty much only works out if you live in a housing cooperative.

[Anonymous No.9069480]

>>9069051
>Buying a house is an investment

That way of thinking is the reason the housing market is such bullshit right now. A house is for living in, staying fucking put, and eventually dying in. No sale.

[Anonymous No.9069515]

>>9069452
Exactly, when you're renting you're STILL paying off a mortgage, and you're STILL paying for maintenance and repairs, the only difference is you're cucking yourself into doing it for someone else.

[Anonymous No.9069523]

The fact that this is even up for debate is why I know I’ll be able to make it if I work hard enough and these cat-loving open-mouth-smiling guys probably won’t

[Anonymous No.9069530]

>>9069452
top kek @ nosebergstein

[Anonymous No.9069577]

>>9069051
>Buying a house is an investment

no its not, you total imbecile. its a massive liability unless your renting it out to someone else and making a profit. read a fucking book

[Anonymous No.9069602]

>>9068900
>Rent. People will argue that the price of the mortgage, maintenance taxes, etc is all baked into the price of rent. Sometimes this is true. But usually not.

What is this cuck faggot saying? Of course all those expenses would be "baked into your rent". Does he think a landlord would rent to you at a loss?

[Anonymous No.9069642]

>>9068900
i get a hefty tax deduction from owning my home

[Anonymous No.9069663]

>>9069577
If you plan on staying put for 10 years and your house doubles, I'd say pretty good investment. All the while deducting taxes on interest and gaining equity.

Just don't take out those big short, 1% down mortgages and don't buy in a shit area

[Anonymous No.9069695]

>>9069515
Except when you buy in at the top of a massive bubble.

We're at the top of a massive bubble right now. Renters who can buy are shorting the housing market. I'm gonna buy in when boomers really start dying off en masse.

[Anonymous No.9069710]

Rent: you get nothing back
House: you get some money back

If you have the cash to buy a house in full, do it. Loans mean "lol pay 2x the price of dis house ok?"

[Anonymous No.9069790]

>>9068900
If you own, your mortgage payment is likely less than a rent payment, and it goes to equity, so if you sell and your house hasn't lost value, you get a lot of that money back.

You also get a tax deduction for mortgage interest, which is likely to be thousands of dollars for the first decade of the loan.

There's a lot to be gained by owning if you get a decent price in a decent area.

[Anonymous No.9069814]

>>9069710
>being this retarded

[Anonymous No.9069833]

>>9069577
It IS an investment if you plan for it to be. Buy low sell high. Oh I forgot this is /biz.

[Anonymous No.9069860]

>>9069710
No, if you have the cash do NOT buy it outright. You will get a great mortgage interest rate and all you need to do with the cash is invest it in something that has a higher ROI than the mortgage interest rate.

[Anonymous No.9069940]

How many houses will mean I never work again? I have enough in crypto to buy 1.5 houses at the moment, hoping we can bubble up hard, thinking of buying maybe 5 houses, living in one and renting out the other 4 to white people

[Anonymous No.9069944]

Buying homes will continue to be a more attractive option until the interest rates rise a significant amount

[Anonymous No.9070358]

>>9069602
He does not want to but often he must. To fucking lazy to cite sources, but roughly half the landlords loose money when factoring in the deprecation, maintanance costs and tenant delinqency. Even if they did not mortage themselves to get the property.

I personally was renting out house I inherited far bellow what it'd cost for you to buy with 30 year mortgage (~1000 vs 500 per month).

Don't get me wrong, there are situations where the marked is fucked up that paying _three times_ the value of house with mortgage is still better then renting. But often renting is viable to.

[Anonymous No.9070378]

>>9069860
There's nothing like that. Paying off the loan is always the best option. Always.

[Anonymous No.9070388]

>>9068900
this is classic terrible advice from James Altschuler, self-appointed "crypto genius".

Owning a home is like the only 1 way bet left in this country
> massive money printing
> deductible interest
> cant lose in the LR unless you're retarded

[Anonymous No.9070413]

>>9068900
Everything is a meme once it gets arbitraged out

Yes housing is a meme

[Anonymous No.9070442]

>buying a house at ATH
BOOMERCONNNEEEEEEEC

[Anonymous No.9070459]

>>9069663

Unless your house halves. You've spent 400k on a house, sell for 200k (and you consider yourself lucky aftrer selling it after 2 years on the market, because you know, fluidity).
And you spent 50k in taxes on 400k house (initial value) over last 10 years.
Minus 5% commision both times (8k first time at least).

So your 400k "investment" just returned 150k after 10 years.

Congrats moron.

[Anonymous No.9070510]

>>9070378
>Paying off the loan is always the best option. Always.
my initial crypto investment money that would have been a downpayment on a house is now worth more than the house.
index funds also have had greater returns than the interest rates on the loans.
opportunity cost is a thing

[Anonymous No.9070657]

>>9069480
Good luck renting from me for the rest of you're life :^)

[Anonymous No.9070749]

>>9069324
Are these numbers real? A place that makes 1500 in rent would cost us over 500k to buy before expenses, it is literally cheaper to rent. The underlying reason why people buy here is for the appreciation which is expected to make up the difference + a tasty profit. This is because house prices always go up and interest rates always go down.

[Anonymous No.9070766]

>>9068900
If you plan on setting up yournp roots i.e. having a family, its nice to have a house.

[Anonymous No.9070914]

>>9070749
>Are these numbers real?
The only number I said was 10 years of renting at $1,500 a month would be $180,000. I said getting "something" back for a house purchase because that would vary greatly depending on a lot of conditions.

>A place that makes 1500 in rent would cost us over 500k to buy before expenses

Really? I find that hard to believe. Do you live in a major city? In my area renting is way more expensive than a mortgage payment for a house of the same sq feet and bed rooms. My 3 bedroom apartment I used to live in was $1600 (granted it had a lot of ameneties and shit I never used) and my 3 bedroom house is $900 a month. How the hell do landlords in your area stay afloat?

[Anonymous No.9071728]

Is anyone planning to just save and buy a cheap house somewhere in Eastern Europe. I heard house tax is non existent there, food, electricity and internet is very cheap.

[Anonymous No.9071814]

>>9070442
kek

[Anonymous No.9071831]

>>9071728
taxes are way lower, but you have to set some money aside for bribes. in countries like bulgaria (im planning on moving there myself if we manage to bubble again) youll need a bribe for everything: to buy a house, to register it, to get living permit, etc.
its basically like paying taxes, the only difference is you pay directly to some bureaucratic rat and not to the country budget.

[Anonymous No.9072074]

>>9071831
>bribe to buy a house
>bribe to get permit
>bribe to register
what kind of shithole... So anyone with some money can move there

[Anonymous No.9072109]

>>9069452
UNLESS you put that down payment money into work that brings you much more back in return (like crypto)

[Anonymous No.9072440]

>>9068900
In my country (ausfag), this is how it's done:
>Buy a house for $415,000 with around 20% deposit to beat Mortgage Lenders Insurance, making an LVR of around 75%
>Pay off mortgage over 4 or 5 years at around $1400 per month
>Home appreciates in value during that time, let's say to around $440,000 with some light renovations
>Reach into the equity of your home
>Use this plus cash saved as deposit for new investment property for $350,000
>Rent that home for $400 per week
>Its mortgage is $1200 per month
>You're cash-flow positive by $100 per week
>Continue this for 2 or 3 years, investment property appreciates in value during this time along with your first home
>Reach into their equity + the cash you've saved, make deposit on another home worth $350,000
>Rent it out for $420 a week because rent has increased
>Its mortgage is $1200 per month
>You're now cash flow positive for $220 a week
>Repeat the process

Compare this to:
>paying $20,000 a year for the roof over your head
>your money provides a 0% ROI
>you have no equity to reach into, no leverage to borrow from

Owning your home is decent way to get into the market, if you make smart decisions. The earlier you get in, the better. The adage that "Time IN the market beats timing the market" is especially true for housing. Sure there's bubbles, but in property-market timeframes they recover quickly (The 2008 GFC was entirely recovered from in my country within 3 or 4 years - in fact, property prices had never soared higher since).

I'm 22, just bought my first home and will be moving to acquire my first investment property in the next 2 years. Looking to achieve a 5% monthly yield.

Anyone done this before and have any tips?

[Anonymous No.9072498]

>>9072440
However you have to live in a shitty part of the country to get a decent house under 600k. Sure it's feasible to own a house for 400k but you'll be living in the middle of fuck all surrounded by housos.

[ScandinaviaBrah !!MMwVgUrCHqf No.9072512]

>>9068900
>mfw 1% interest rate and 100% increase in houseprices over the last 5 years


ye its a meme heh

[Anonymous No.9072571]

>>9070459
>Unless your house halves
Just as the Sahara harbors fodder for lions, the market holds retards for the witty.

If you buy a house and its value halves, you're completely - utterly retarded. Here's how it could happen and how simple diligence could avoid it:
Cause:
>natural disaster wipes it out
Mitigation:
>don't buy in flood zones, fire zones or areas which have had cyclones / landslides / earthquakes / tsunamis in the past
>Your insurance should cover every single cent of your home. Claim it and then sell the land for profit.

Cause:
>an open-air rubbish dump opens up right across the road
Mitigation:
>assess 20-year council plans, analyse zoning, inquire with local council and town-planners as to development options

Cause:
>a telecom demolishes the house next door and builds a radio-station there
Mitigation:
>see the previous point, know your rights as a landholder in the local council you live in

Cause:
>the area becomes extremely, violently niggerfied and your street becomes a literal crack-den ridden, sewage strewn hell-hole
Mitigation:
>assess owner-occupied vs. renting percentage and its historical trends for indications that it's niggerfying
>assess median household income for the area and historical trends to identify indications that it's niggerfying
>visit the local supermarkets to assess its businesses and clientele to identify indications that it's niggerfying
>buy in an area that's gentrifying

Cause:
>an airport opens up next door
Mitigation:
>see second and third points

Seriously how does this happen?

[Anonymous No.9072597]

>>9072498
I assume you live in Perth or Sydney. I live in brissy, just bought a house for $415k which is 20 mins from the city. It's in a wonderful area with a street full of families, and the house at the end of the street was last sold for over a million. In the neighbouring block, the houses average over $1.4MM each. Brisbane is the last remaining refuge of reasonable pricing in Australia. We also just made the largest population increase in the country for 2016/2017, meaning more people are flocking here - particularly other Aussies. It's indicative that:
>firstly, people are realising that it's cheap and nice to live here
>secondly, this will be changing soon

If you're in a position to acquire investment properties now and hold them for the next 10 years, QLD will probably provide the biggest ROI in my assessment.

[Anonymous No.9072624]

>>9072597
agreed. Is this on the south side? I know of a suburb where ugly shitboxes cost 1mil it's crazy

[Anonymous No.9072666]

>>9069051
>Buying a house is an investment
It's worst thing you can do with your money. Literally. If I knew then, what I know now, I would have never done it at the point I did.

If the house cost is more then 1/10th of your money, dont do it.
If you need a loan to get it, DONT DO IT.

Basicly you only buy house when you need it because wife. Its like a car. You buy it if you absolutely need it. Else, you dont.

[Anonymous No.9072684]

>>9069324
That money that you put in a mortgage could have been invested in the stock market

Real estate is going long RE and short bonds. Good bet after a recession, bad bet after a long bull market

[Anonymous No.9072687]

>>9072624
Yep, south side.
Northern suburbs have those shitholes for 1mil, it is absolutely crazy - just like how those delapidated houses with broken floors and caved in rooves sell for 2mm and then 2.5mm three months later in Sydney.

I moved from Perth, and it's just insane. Perth has the filthiest shitholes in shitty areas packed with shitty centrestink folk who pollute the entire populace with crime and vagrancy, and yet these crack-corrupted, asbestos infested, termite swarming, poo smeared pissbuckets still manage to sell for $500k.

In Brissy, I assess that in some suburbs, houses are approximately half the cost of houses in Perth when you consider
>what they are (bedroom/bathroom/brick/roofing)
>land size
>gentrification of area
>proximity to public transport, education centres, the CBD, shopping districts, the coast, entertainment precincts and parks

Every property investor in Perth I've spoken to has, quote, explained that they are currently in "Hell". This is because they've acquired property for $850,000 which has """depreciated""" to $570,000. This """depreciation""" is actually a healthy, natural correction - where cashed-up mining bogans no longer have the disposable income to buy whatever the fuck they want.

I knew it was going to come crashing down when "Holden Commodores" and "Jet Skis" became the most popular for-sale item on local marketplaces.

[Anonymous No.9072698]

>>9069401
Or the landlord defaulted on his loan and disappeared in 2009

[Anonymous No.9072710]

>>9072597
furthermore, public transport in brisbane is very well planned as it is quite a new city. There are plenty of massive development schemes atm and if they get successfully built bris is going to be very different in 10 years.

[Anonymous No.9072715]

>>9072684
>That money that you put in a mortgage could have been invested in the stock market

No, because then I'd have no place to live so I'd have to rent. Only the down payment could have been invested.

[Anonymous No.9073133]

test -- is this board even working.

[Anonymous No.9073229]

So much ignorance in this thread. I'm a real estate professional with over 10 years in the biz, ask me anything.

Ill start off with the general basic rule of thumb that if you are going to live in one place, one home for greater than 5 years, it's better financially to buy than rent. This comes with some basic assumptions: you're in the US, you're getting a mortgage, you'd buy a similar home as you would rent and they are at the current market prices.

There seems to be an assumption here that landlords never lose money. This is false, many landlords are idiots, inherited the property or don't fully account for expenses. The greatest unaccounted loss factors for landlords are vacancy, management (you're hassle factor has a true cost) depreciation and unexpected repairs. There is also the risk of a vindictive tenant who purposefully destroys the property.

The best areas to rent as a tenant are the highest value areas, as rental rates can never keep up with prices and therefore renting is a better 'deal'. As a landlord, slightly above lower class areas are the best areas to rent, as rents can meet or exceed the homes value.

For example, the minimum cap rate for a rental home is generally 8%. (This assumes rents will appreciate similarly as home values, if you are playing the appreciation game, that's a different type of investment aka speculation).

In a lower income area, a home is worth 150k for example. Thus, an 8% cap rate means an NOI of 12k per year. Most landlords fuck up by saying well I guess I have to charge 1k per month, WRONG. You have to factor in repairs taxes ins etc which total roughly 25% of the rent, plus another 5% for vacancy. This a 150k home needs to rent for roughly $1400/mo. This is reasonable for that home price in the market.

In contrast a 1mil home by the same assumptions would have to rent for $9,350/mo. This generally not possible, as people with that much to spend will not rent for long.

[Anonymous No.9073311]

>>9068900
yearly price of "owning" a home in Land of The Free™

>pay $30,000 mortgage
>pay $10,000 property tax
>pay $6,000 electricity/water
>pay $5,000 maintenance/repairs
>pay $4,000 HOA fees
>pay $3,000 home insurance
>pay $15,000 health insurance
>pay $10,000 student loans
>pay $10,000 pension you will never live to see
>miss a payment? go homeless

[Anonymous No.9073399]

>>9069324
>be freedumb loving Texan
>own an overvalued home
>tax assessor is corrupt
>pay 2000 a month in property taxes for a home that should be close to 1000
>have many sleepless nights about what do
>be living paycheck to paycheck

I owe over 200k in student debt, im stuck making around 60k for the next 4 years.
just end my life senapi

[Anonymous No.9073529]

>>9073229
Based, screencapped. Can you wax lyrical on buying to live in, since you've covered rental properties? I know you've touched on this but care to elaborate?

[Anonymous No.9073554]

>>9069602
I basically am. I moved country and decided to keep my house for when I return. Rent I get is less than total holding costs. Rental market is pretty shit in Australia where it's located. Used to fetch $430 per week, now it's $340. It's essentially subsidized, rather than an income earner.

[Anonymous No.9073563]

>>9072512
True. I bought my house for 159k 2 years ago. Comps in the area are going for 195k with no updates. I've put down modern flooring, updated the kitchen etc...

Im going to get at least 215k on my house when I sell it in a year or two and ill hve built up 100k + in equity from aggressively making payments.

Going to have a cool 150k+ to put down on a pad in Florida.

[Anonymous No.9073584]

>>9073311
The only one of those required is property taxes which is better than 'communist' china which you never own but only lease from the gov. Pension, student loans have nothing to do with property.

[Anonymous No.9073617]

>>9073399
Sounds like you made some poor decisions. If your being over assessed you can appeal the tax value, only takes paperwork and maybe a 500$ appraisal.

[Anonymous No.9073658]

>>9073554
To buy to live in the rule of thumb is no more than 4x gross income of the household but you're always better off living with less. What else do you want to know?

[Anonymous No.9073661]

>>9073229
>The best areas to rent as a tenant are the highest value areas, as rental rates can never keep up with prices and therefore renting is a better 'deal'. As a landlord, slightly above lower class areas are the best areas to rent, as rents can meet or exceed the homes value.
Best advice this board has seen in months. Based

[Anonymous No.9073699]

>>9073311
>>9073399
>get assraped by mortgage
>get assraped by property taxes
>get assraped by speculative bubbles
>get assraped by demographic replacement of formerly white hoods
>get assraped by utilities
>get assraped by HOAs
>get assraped by contractors
>get assraped by student loans
>get assraped by health insurance

the crapitalist system makes the Soviet system look like utopia in comparison

>free housing, free education, free healthcare
>no mortgage
>no property tax
>no utility fees
>no bubbles
>no contractors
>no demographic replacement
>no HOAs

i want USSR back!

[Anonymous No.9073773]

>>9073658
>>9073563
>>9073563
>>9073229
>>9072440
mortgage on a $500k house is $3k a month = $36k/yr + $10k property tax + $10k expenses =
$70k yr
you hold it for 5yrs = $350k
thats $850k
you sell for $1mill, your profit is $100k (after tax)

[Anonymous No.9073877]

>>9073584
>>9073617
>>9073661
>>9073229
Yeah the housing is cheap but the city will tax you up the ass and issue a lot of bullshit citations so the city can get a stable income.

[Anonymous No.9073901]

>>9073584
except there were no property taxes in USSR/Iron Curtain and people owned houses/apartments or were given one for free with no bullshit mortgage payments, property tax or utility fees

paying for bogus fees to offset artificial risk mandated by a mafia is outright banditry

[Anonymous No.9073997]

>>9073901
>>9073584
You were guaranteed housing in USSR/Iron Curtain, unlike US where the system guarantees homelessness

Well under capitalism you need to wait 30 years to pay off a home. You spend more on food than you do on shelter

I talked to people who lived in Communist Ukraine and he said that before if you worked, you were guaranteed food, shelter, etc. This made people willing to make families.

Now under Capitalist Ukraine people gradually get poorer and poorer every year while the rich get richer and richer. People are not breeding anymore because they're too poor to, they don't have the resources anymore. I see the same thing happening here in America, people aren't breeding anymore because they're poor and they know it.

[Anonymous No.9074186]

>>9073773
You dont understand how it works. You pay CAPITAL GAINS tax if your profit on the home is above 250k (single) 500k (married)

And again, the tax is only on the profit of the sales. So let's say 25% of 500k

125k in taxes. BUT, You still get the 350k in equity you built.

1,000,000-150,000(taxes)-320,000(outstanding balance on mortgage) = $530,000

[Anonymous No.9074229]

Yes, owning a home is 100% a boomer meme. A rent payment is the most you'll ever pay each month...your mortgage payment is the bare minimum you'll pay.

>but muh equity!
The first several years you're paying mostly interest. If you want to move within 5 years you've likely lost money due to closing costs, etc.
>but muh tax deduction!
Not anymore, faggot. With tax reform the standard deduction that EVERYONE gets is going to be more than your mortgage interest and property tax.

Buying a home is literally buying a boomer's bags.

[Anonymous No.9074429]

>>9074186
you missed deducting the expenses paid after 5 yrs
>mortgage on a $500k house is $3k a month = $36k/yr + $10k property tax + $10k expenses = $70k yr
>you hold it for 5yrs = $350k

1,000,000
-150,000(taxes)
-320,000(outstanding balance on mortgage)
-350,000 (expenses for 5 yrs)

$180,000

[Anonymous No.9074450]

>>9074429
How do you get 350k in expesnes over 5 years?

[Anonymous No.9074456]

>>9073311
Your costs are WAY OFF.
>$12,000 morgate
>$5,000 property tax
>$2,400 utilities
>$3,000 maintainence
>$0 HOA fees
>$800 home insurance
The others have nothing to do with owning a home
Miss a payment get a $20-50 late fee

[Anonymous No.9074469]

>>9068900
>not buying a comfy condo in a big city

[Anonymous No.9074524]

>>9074450
factor in property tax, repairs, HOA, insurance, utilities, mortgage payments etc...

>>9074456
student loans, health insurance, pension funds etc all factor in the ability to make home payments... this is common knowledge

[Anonymous No.9074531]

>>9073699
Eat a bullet soviet scum

[Anonymous No.9074602]

>>9073773
>mortgage on a $500k house is $3k a month = $36k/yr + $10k property tax + $10k expenses =
$70k yr
>36 + 10 + 10 = 70

[Anonymous No.9074608]

>>9074456
>$12,000 morgate
found the detroit ghetto dweller

your ghetto shacks dont count.

monthly mortgage cost for a house in a relevant area costs atleast $2000, which is $24,000

move to a decent white upper middle class neighborhood before you shitpost

[Anonymous No.9074632]

>>9074524
They don't factor into any of my considerations for owning a home
>No student debt
>Health insurance through job
>401K with work matching
>I don't have an HOA and my old HOA was $100 a year

[Anonymous No.9074634]

>>9074524
Mortgage payment isn't an expense as you get most of it back after the sale of the house.

None of those other things will get you close to that number.

[Anonymous No.9074673]

>>9068900
aren't we at all time high real estate prices in North America and Europe right now though? Wouldn't this be the definition of buying at the top? Something's gotta give sooner or later, prices can't inflate forever.

[Anonymous No.9074680]

>>9074608
Living an a upper middle class brand new neighborhood in a house that I had built across the street from an elementary school
All the costs where annual so that is $12000 annual mortgage costs
I put $100,000 down from crypto gains

[Anonymous No.9074780]

>>9074602
Spending $70k/yr on a $500k home is realistic. It depends on what type of mortgage you get as well as your property tax, maintenance, utilities

[Anonymous No.9074794]

Unless your renting an absolute shit hole or living with a bunch of people to save it's totally worth it

[Anonymous No.9074803]

>>9074608
I pay $900 a month for this.

Midwestern college town. I never see any black people in my neighborhood

[Anonymous No.9074888]

>>9074634
You deduct the mortgage payments to get profit. You are tricking yourself into thinking you made bank, when in reality, it was a measly couple grand.

[Anonymous No.9074915]

>>9068900
>implying you ever own it
try not paying property tax and see if you still own it

[Anonymous No.9074924]

>>9074803
That's standard for living in barrio.
Oklahoma isnt white. its beaner central.

[Anonymous No.9074929]

>>9072440
How is this not a fucking bubble when everyone is doing this? It's got to correct again soon when 22 year olds are trying to flip homes

[Anonymous No.9074935]

>>9070378
>There's nothing like that. Paying off the loan is always the best option. Always.
learn how interest rates work

[Anonymous No.9074978]

>>9074888
This. Anyone thinking they made bank by selling a home for double the amount needs to learn basic accounting.

[Anonymous No.9075033]

>>9074915
>>9073699
Hush goyim. Capitalism guarantees you the illusion of owning a home

[Anonymous No.9075114]

>>9074929
as long as you can fit 30 mates into one house, you'll be alright.

>>9075033
the issue with crapitalism is the crapitalist is preoccupied with offloading the burden of enslavement onto the next goy. the entire society is built on a pyramid of offloading enslavement onto someone else.

instead of having stable shelter with no risk, the crapitalist allocates risk into living necessities (shelter, food, etc) that is burdened onto the renter. the entire system is preoccupied by transferring risk to others.

the communist model does not allocate risk into living necessities (shelter etc..) and guarantees a stable shelter, food, and frees the population from preoccupation of risk and fear.

with the emancipation from preoccupation of risk allocation of the crapitalist system, the communist population focuses on solving space colonisation and real world issues, instead of the basic shelter issues

[Anonymous No.9075146]

>tfw living in mommies basement rent free with $230K in cash waiting for the housing bubble to crash

[Anonymous No.9075219]

>>9074456
>>9074632
>>9074680
>>9074803
>flyover states

Can we please disregard the irrelevant shitholes. The coasts are America. Any discussion regarding anything is focused on the California and the East Coast by default. Irrelevant states have flyover no place in these discussions

[Anonymous No.9075237]

>>9068900
>2 000 000 house
>1-5% yoy increase
>expenses zero income

>2 000 000 dividend portfolio
>12-50% yoy increase
>90 000 tax free passive income

[Anonymous No.9075312]

>>9074673
>>9074929
some countries can just let more foreigners move there to buy houses if demand fails

[Anonymous No.9075341]

>>9075312
from January 2000 to July 2006, during Bush NWO leader's Housing Bubble, home prices surged 900%

Avg price of house around 1998 before globalisation and free-trade went full swing
>$180k in NYC (boros)
>$170k in SF
>$150k in LA
>$120k in DC
>$140k in Sydney
>$120k in Melbourne
>$140k in Toronto
>$130k in Vancouver
>£50k in London


Avg price of house after 2004 massive free-trade/open-borders
>$800k in NYC (boros)
>$1m in SF
>$600k in LA
>$500k in DC
>$900k in Sydney
>$700k in Melbourne
>$600k in Toronto
>$1m in Vancouver
>£1m in London
---------------------------------------------------------
before free trade:
>domestic production of goods
>goods were affordable and of high quality
>lowest cost of living
>affordable housing (house costs only 2 times the annual salary)
>90% white

after free trade:
>homeless/opiod/suicide epidemic/white genocide
>unemployment
>highest cost of living
>unaffordable housing (10-20 times the annual salary)
>plummeting life expectance
>shit quality products that kill you
>millions of illegal shitskin locusts invading and killing whites

[Anonymous No.9075642]

>>9075219
No, we shall not disregard over 90% of the country you fucking brainlet. Google's central cloud facility is in Iowa you fucking moron.

[Anonymous No.9075697]

>>9075219
Who gives a shit? All of America looks like this anyway from coast to coast. If you're a crypto-neet or make money online why wouldn't you live in one of the "non-famous" states instead of spending more money for no reason to live in california?

[Anonymous No.9075728]

>>9075697
Geee I wonder what state this is. It's literally all the same shit.

[Anonymous No.9075783]

>>9075728
Truly the greatest nation on earth.

[Anonymous No.9075816]

>>9075728
You make a great point. It's literally all the same shit.

[Anonymous No.9075840]

>>9075728
Why so many MattressFirms? I got off an exit, saw a mattress firm, drove maybe a mile up the road to a restaurant, saw another MattressFirm.

[Anonymous No.9075922]

>>9075697


b--b-but in NYC I can get paid 90k and eat ethnic food! muh city.

[Anonymous No.9075964]

>>9075840
Mattress Firms are NSA front

[Anonymous No.9076013]

>>9074888
>a measly couple grand
>>9074978
>selling a home for double

see
>>9075341
>home prices surged 900%

[Anonymous No.9076035]

Buying a house is literally throwing money away. It makes no sense financially and can only hurt you, money-wise. That said I intend to one day own a home. Three separate times I've tried living the unnatural and sick city and suburb lifestyle and it is nothing less than hell. Midtown in a 650k city, a small complex of apartments next to a nature trail in a city of 80k, and a suburb 15 minutes drive from downtown 170k city. I hated that shit, and gave each spot a year or two, honestly trying to make it work. People just weren't meant to live like rats all piled on top of each other. No racism intended but city people are scum of the lowest kind, it made me wonder just how great a human's capacity for evil is. After each attempt I've moved back in with relatives country side.

I've settled on an area for my future home. I want something small about 5 acres about 30 minutes out from work in a 90k city. I don't know when I'll finally unjew from my stacks and get a loan, but that's ok. If I wait long enough I'll just pay upfront and bully them to lower the price and them knowing it's sweet cash as soon as the lawyers and bankers hit OK. My lambo will be a sweet shop in the backyard with all my toys. Countryfolk life is top comfy and the only life for me. Land in the good parts of America is cheap. 5 acres and a house is easily doable for under 200k. Homeownership might be homonerdshit, but don't look at it as an investment. It's a peace-of-mind tax and well worth it. The commute sucks ass but I load up interesting lectures/podcasts and do what it takes. Retirement is just a mooning away.

[Anonymous No.9076062]

>>9075114
Look at how good venezuela and pre revolution china turned out. Capitalism isn't perfect but if you had to bet all your savings on a person's greed or altruism to drive progress, it is more likely that he or she will work hard because of greed

[Anonymous No.9076312]

>>9076062
>work hard because of greed
which is the basis of crypto

[Anonymous No.9077079]

>100k downpayment for construction loan of 350k land + 150k house with 5 bedrooms.
>rent 4 rooms @116 per week and live in one
>annual rental income = 24k gross // interest on 400k loan @ 4% = 16k annually // 8k net annual rental income.
>assuming 20 years installment, repayment of 400k is 20k per year.
>assume 5% capital growth on property = 25k.

yield = profit/cost = 33k(rent income + capital gain)/120k (1st year mortgage repayment + downpayment)

= 27.5% ROI. The return will slowly deminish to ~10% over 9 years as you put more money into the repayments. (i.e. next year ROI will be ~33.8k/140k = 24%.

Basically after the initial 100k downpayment, for every 20k you put in towards the repayment you get 33k in capital appreciation and rent combined.